Lithuanian on-demand manufacturing platform ColibrisODM raised €300K

Lithuanian on-demand manufacturing platform ColibrisODM raised €300K from Lithuanian funds CoInvest Capital and LitBAN.

ColibrisODM was founded by Justinas Bielskis and Karolis Rooster in Kaunas (Lithuania) in 2021. The startup offers a digital platform that brings together metalworking companies and their potential customers, who can order individual products or services such as cutting, forming, welding, machining, coating, and assembling on this platform. Having received an order on the platform, the startup presents it to the supplier that better corresponds to the specifics of the order. When forming an order, the customer can manage the price himself – refuse unnecessary services, change the raw material, and see the price changes in real time.

ColibrisODM uses AI solutions, that allow it to recognize the uploaded geometry of the drawing and assess the weight of materials and processing time. The primer suppliers on the platform come from the Baltic states and Poland, and the customers are from Sweden and Germany.

The startup will use the investment for international expansion in Scandinavia and Western Europe, strengthening digital marketing, and increasing sales.

Coinvest Capital was established in Vilnius in 2017. The fund invests in startups at the early stages and co-invests with groups of business angels and other venture capital funds. It was founded by INVEGA, using public funds from the EU and the budget of the Republic of Lithuania.

Vilnius-based LitBAN (Lithuanian Business Angel Network) is a group of business angels. It was founded in 2017. LitBAN focuses on early-stage venture investment in Latvia and the Baltics.